Japan Jan current account deficit widens to record
TOKYO, March 10 (Reuters) - Japan's current account logged a record deficit in January, Ministry of Finance (MOF) data showed on Monday, as a bulging trade deficit eats into the country's balance of payments. The deficit stood at 1.589 trillion yen ($15.4 billion), against economists' median estimate of a 1.4 trillion yen deficit. It followed a 638.6 billion yen shortfall in the previous month, which was the biggest amount in comparable data going back to 1985. A weak yen and solid consumption before a planned sales tax hike in April have driven imports, already elevated by strong demand for fossil fuel to make up for nuclear energy lost since the Fukushima crisis, causing a persistent trade deficit.For more background, please see PREVIEW
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